BCA Research’s Commodity & Energy Strategy service is lowering its expectation for oil-demand growth this year, bringing it more in line with levels expected by OPEC, the IEA and EIA. Nevertheless, the team’s…
Last October, we highlighted a tactical opportunity to go long Brent / short copper. The argument then was that although the long-term outlook is likely to favor copper, fundamentals as wells as relative net speculative positions…
BCA Research’s Commodity & Energy Strategy service concludes that over the short term – to the end of 2022 – oil and base metals will appear to be in the early stages of a commodity super-cycle. But, upon…
Highlights The multiple paid for oil sector profits is collapsing because the market fears that the profits slump will not be short-lived. The fear is not just of a lasting hit to aviation and a slower recovery in road mobility, but…
According to BCA Research’s Commodity & Energy Strategy service, the oil market’s supply-demand fundamentals are unlikely to experience a prolonged dislocation despite the inclement weather engulfing the US…
Highlights Both the US and Iran have the intention and capability of restoring the 2015 nuclear deal so investors should presume that an escalation in tensions will conclude with a new arrangement by August this year. However, the…
Highlights Transitory dislocations – i.e., supply and demand disruptions in the wake of the Polar Vortex engulfing the US midcontinent – are wreaking havoc on spot oil markets; however, they will not profoundly alter longer…
Oil’s 9-day rally paused on Thursday as monthly updates from the IEA and OPEC indicated a less optimistic outlook for global oil markets. Both organizations reduced their demand forecasts for this year, with the IEA …